There's little hope for growth for Logitech this year, according to Credit Suisse.
Analyst Serge Rotzer downgraded Logitech to neutral from outperform. "Given that there is little prospect of growth in the next six months in a challenging interest rate environment, we do not see any short-term catalysts, and we believe the holiday season could become the first event to change the outlook," he wrote in a client note Monday.
Credit Suisse forecasts Logitech's revenue to decline by an average of 10.5% in the fiscal years 2023 to 2024. The firm notes that Logitech's two main structural growth drivers, gaming and video collaboration, are currently struggling. Logitech only offered guidance for the first half half of fiscal year 2024, abstaining from a full-year outlook.
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